N.E.W. Advisory Services LLC Purchases New Shares in Wells Fargo & Company $WFC

N.E.W. Advisory Services LLC bought a new position in Wells Fargo & Company (NYSE:WFC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,767 shares of the financial services provider’s stock, valued at approximately $2,460,000.

A number of other large investors have also made changes to their positions in the company. Godfrey Financial Associates Inc. acquired a new stake in Wells Fargo & Company during the 4th quarter valued at $25,000. Miller Capital Partners Inc. purchased a new stake in shares of Wells Fargo & Company in the fourth quarter valued at $25,000. Navalign LLC acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $26,000. Joseph Group Capital Management acquired a new stake in shares of Wells Fargo & Company in the fourth quarter worth $28,000. Finally, Phillip James Consulting Co. purchased a new position in shares of Wells Fargo & Company during the first quarter valued at $28,000. Institutional investors and hedge funds own 75.90% of the company’s stock.

Analysts Set New Price Targets

WFC has been the topic of a number of research reports. Truist Financial upped their target price on Wells Fargo & Company from $90.00 to $94.00 and gave the company a “buy” rating in a report on Friday, June 26th. Raymond James Financial restated a “market perform” rating on shares of Wells Fargo & Company in a report on Tuesday, July 14th. JPMorgan Chase & Co. boosted their price objective on shares of Wells Fargo & Company from $93.50 to $95.50 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Robert W. Baird upped their price objective on shares of Wells Fargo & Company from $85.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, July 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Wells Fargo & Company in a research report on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $98.61.

Wells Fargo & Company Trading Up 0.2%

Shares of NYSE:WFC opened at $83.83 on Friday. The company has a market cap of $253.50 billion, a P/E ratio of 12.18, a P/E/G ratio of 0.91 and a beta of 0.92. The stock’s 50-day moving average is $86.08 and its 200-day moving average is $82.97. Wells Fargo & Company has a 52-week low of $72.78 and a 52-week high of $97.76. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.90 and a current ratio of 0.90.

Wells Fargo & Company (NYSE:WFC) last issued its quarterly earnings results on Tuesday, July 14th. The financial services provider reported $1.96 EPS for the quarter, topping analysts’ consensus estimates of $1.73 by $0.23. The company had revenue of $22.62 billion during the quarter, compared to analyst estimates of $21.86 billion. Wells Fargo & Company had a return on equity of 13.85% and a net margin of 17.55%.The company’s quarterly revenue was up 8.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. Equities research analysts predict that Wells Fargo & Company will post 7.26 earnings per share for the current year.

Wells Fargo & Company Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be given a $0.50 dividend. The ex-dividend date is Friday, August 7th. This represents a $2.00 annualized dividend and a yield of 2.4%. This is a positive change from Wells Fargo & Company’s previous quarterly dividend of $0.45. Wells Fargo & Company’s dividend payout ratio (DPR) is 29.07%.

About Wells Fargo & Company

Wells Fargo & Company is a diversified, U.S.-based financial services company headquartered in San Francisco, California. Founded in 1852 by Henry Wells and William G. Fargo, the firm has evolved from its origins in express delivery and pioneer-era banking into one of the largest full-service banks in the United States. The company provides a broad range of financial products and services to individual, small business, commercial, and institutional clients. Charles W. Scharf serves as chief executive officer.

Wells Fargo operates across several core business segments, including consumer banking and lending, commercial banking, corporate and investment banking, and wealth and investment management.